Web3: The "Ghost Chains" Problem and the Token Bubble

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Why most Web3 products still look like smoke and mirrors, and what we (as developers) can do to solve it. The biggest failure of Web3 today is that we have solutions looking for problems, or multi-million dollar infrastructures that do not resolve real needs. A clear example is the saturation of L1 Blockchains without users. You only need to look at the data to notice the disconnect: blockchains valued at billions with minuscule on-chain activity and fee generation. As developers, we must shift our focus.

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